Last week, President Obama signed into effect a bill with the potential to impact many businesses. The act, titled Small Business Jobs Act of 2010, provides purchase incentives and tax breaks for businesses that purchase “qualified real property” in 2010, among other tax changes. Don’t be misled by the name of this act as the advantages are open to small and large businesses alike. This bill extended the 50% bonus depreciation provision that was in effect for 2008 and 2009, providing tax write-offs for qualifying property purchases made and placed in service during 2010.
Included in “qualifying assets” is the purchase of computer software. So, if you are thinking about holding off until the new year to purchase new software for your business, don’t. The legislation is only in effect until December 31 of this year. Take the time to assess your Q4 budget, and make an investment in the latest software programs that The Computer Company, Inc. can offer you through our partnerships with Microsoft and other software providers.
Already purchased software for your company this year? This provision is retroactive allowing businesses to write off software that was bought and put to use earlier in the year. However its done, be sure to take advantage of the Small Business Jobs Act and partake in fostering capital investment.
